In the matter of Fawaz Pty Ltd [2019] NSWSC 1010

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Fawaz Pty Ltd [2019] NSWSC 1010 Hearing dates: 7 August 2019 Decision date: 07 August 2019 Jurisdiction: Equity Before: Ward CJ in Eq Decision: 1. Pursuant to s 482 of the Corporations Act 2001 (Cth), the winding up of Fawaz Pty Ltd (ACN 160 605 774) (in liquidation), be terminated. 2. Pursuant to r 36.16 of the Uniform Civil Procedure Rules 2005 (NSW), the order of Registrar Walton made on 1 July 2019 winding up Fawaz Pty Ltd (in liquidation) on 1 July 2019 be set aside. 3. Control of Fawaz Pty Ltd (in liquidation) be returned to its director. 4. The applicant's originating process be otherwise dismissed. 5. The Court notes the agreement between the first and second applicants and the second respondent that: a. the second respondent's remuneration and expenses (including legal costs) of acting as the liquidators of the first applicant are agreed in the sum of $27,409.25; and b. those are to be paid from the bank account of the first applicant before control of that account reverts to the first applicant. 6. Otherwise, no order as to costs. Catchwords: CORPORATIONS - Winding up - Termination of winding up order - Solvency - control of company returned to the director Legislation Cited: Corporations Act 2001 (Cth), s 482 Supreme Court (Corporations) Rules 1999 (NSW), r 2.8 Uniform Civil Procedure Rules 2005 (NSW), r 36.16 Cases Cited: In the matter of 311 Hume Highway Liverpool Fund Pty Ltd (in liquidation) [2013] NSWSC 465 In the matter of Glass Recycling Pty Ltd (ACN 001 332 654) [2014] NSWSC 439. Re Warbler Pty Ltd (1982) 6 ACLR 526 Category: Principal judgment Parties: Fawaz Pty Ltd ACN 160 605 774 (in liquidation) (First Applicant/Defendant) Mohamad Akram Fawaz (Second Applicant) Workers Compensation Nominal Insurer ABN 83 564 379 108 (First Respondent/Plaintiff) Andrew Scott and William Anthony Honner in their capacity as Official Liquidators of Fawaz Pty Ltd (in liquidation) ACN 160 605 774 (Second Respondent) Representation: Counsel: J Green (Solicitor) (Applicants) P Kumar (Solicitor) (Respondents)